What’s Propelling Akcea Therapeutics, Inc. (AKCA) to Reach All Time High?

March 21, 2018 - By Maria Brooks

The stock of Akcea Therapeutics, Inc. (NASDAQ:AKCA) reached all time high today, Mar, 21 and still has $34.56 target or 7.00 % above today’s $32.30 share price. This indicates more upside for the $2.15B company. This technical setup was reported by Barchart.com. If the $34.56 PT is reached, the company will be worth $150.64 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 0.81% or $0.26 during the last trading session, reaching $32.3. About 366,791 shares traded or 1.04% up from the average. Akcea Therapeutics, Inc. (NASDAQ:AKCA) has 0.00% since March 21, 2017 and is . It has underperformed by 16.70% the S&P500.

Analysts await Akcea Therapeutics, Inc. (NASDAQ:AKCA) to report earnings on May, 28. After $-0.26 actual earnings per share reported by Akcea Therapeutics, Inc. for the previous quarter, Wall Street now forecasts 30.77 % negative EPS growth.

Akcea Therapeutics, Inc. (NASDAQ:AKCA) Ratings Coverage

Among 3 analysts covering Akcea Therapeutics Inc (NASDAQ:AKCA), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Akcea Therapeutics Inc had 5 analyst reports since August 8, 2017 according to SRatingsIntel. The stock of Akcea Therapeutics, Inc. (NASDAQ:AKCA) has “Buy” rating given on Tuesday, October 31 by Stifel Nicolaus. The firm has “Buy” rating given on Tuesday, August 8 by Stifel Nicolaus. The stock of Akcea Therapeutics, Inc. (NASDAQ:AKCA) has “Buy” rating given on Tuesday, November 7 by Stifel Nicolaus. BMO Capital Markets initiated the stock with “Buy” rating in Tuesday, August 8 report.

Akcea Therapeutics Inc., a late-stage biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. The company has market cap of $2.15 billion. It develops Volanesorsen, which has completed Phase 3 clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase 3 clinical study for the treatment of familial partial lipodystrophy. It currently has negative earnings. The firm also develops AKCEA-APO-LRx, which has completed Phase 2b clinical study for treating patients suffering with hyperlipoproteinemia; AKCEA-ANGPTL3-LRx that has completed Phase 1/2 clinical study for the treatment of multiple lipid disorders; and AKCEA-APOCIII-LRx, which is in Phase 1/2 study for the treatment of cardiovascular disease driven by high triglycerides.

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